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House moves technical amendment to Master Bond Act, sets 15-year default for bond maturities
Summary
During the session the House advanced an amendment to the Master Bond Act (House Bill 1,001) that inserts a default 15-year maturity for bonds. Sponsors said the amendment is technical; members warned that defeat could prevent issuance of roughly $165 million in previously authorized bonds for highways, archives, the Vineyard School and other projects.
House members advanced a technical amendment to the Master Bond Act, House Bill 1,001, that inserts a statutory default maturity of 15 years for bonds, sponsors said. The measure’s sponsor told members the change does not itself authorize any bonds; rather, it clarifies the statute that governs issuance and maturity so previously approved authorizations can be issued under a predictable default term.
Sponsor Ron Bigelow, identified on…
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